What was the main cause of Barings Bank's collapse in 1995?
Fraudulent investments by Nick Leeson
Economic recession
Poor management
Bank run
Answer
Barings Bank collapsed in 1995 after suffering losses of £827 million (£1.7 billion in 2021) due to fraudulent investments, primarily in futures contracts, conducted by its employee Nick Leeson, who was working at its office in Singapore.
Barings Bank Brain Challenge: 20 Questions to Push Your Limits
More Questions
In which country did Nick Leeson work when he caused the collapse of Barings Bank?
How much money did Barings Bank lose due to Nick Leeson's fraudulent investments?
What type of financial instrument did Nick Leeson primarily use in his fraudulent investments?
Which German bank was Barings Bank's close collaborator and German representative?
In what year did Barings Bank collapse?
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